Ming Yuan Cloud’s $797 Million Initial Public Offering


Davis Polk advised Ming Yuan Cloud Group Holdings Limited in the transaction.

Ming Yuan Cloud Group Holdings Limited executted its initial public offering and listing on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A and Regulation S. The gross proceeds from the offering amounted to approximately HK$6.2 billion (US$797 million) prior to exercise of the over-allotment option. This is the largest Hong Kong IPO by a Chinese software company this year.

Ming Yuan Cloud is the leading software solution provider for property developers in China, offering enterprise-grade ERP solutions and SaaS products that intelligizes the real estate value chain.

The Davis Polk corporate team advising Ming Yuan Cloud included partners Li He (Picture) and Yang Chu, registered foreign lawyers Kevin Zhang and Lulu Han and associates Kai Sun, Jeffrey Chan and Jessica Ng. Associate Omer Harel provided tax advice.

Involved fees earner: Jeffrey Chan – Davis Polk & Wardwell; Yang Chu – Davis Polk & Wardwell; Lulu Han – Davis Polk & Wardwell; Omer Harel – Davis Polk & Wardwell; Li He – Davis Polk & Wardwell; Jessica Ng – Davis Polk & Wardwell; Kai Sun – Davis Polk & Wardwell; Kevin Zhang – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Ming Yuan Cloud;

Author: Michael Patrini